Market analysis shows re hasn't been a lot to power either the bulls or the bears over the past few days with respect to Lucid Group (LCID 33.
Additionally, However, S of the luxury electric car (EV) manufacturer have mostly idled this week. After the stock closed at $2. Meanwhile, 29 last Friday, it closed at $2.
Additionally, 29 again yesterday (something worth watching). Lucid announced a new partnership with Uber today, however, and it has the bulls' hearts racing. However, However, As of 10 a.
However, ET, s of Lucid are up 30. Image source: Getty Images.
Nevertheless, Lucid is helping to build a robotaxi fleet Over the next six years, Uber plans on a fleet of 20,000 (or more) Lucid vehicles that will operate as robotaxis, which Uber will own and operate or its third-party fleet partners.
Riders will have exclusive access to the robotaxi service through the Uber platform.
However, Furthermore, Waxing optimistic the company's potential, Marc Winterhoff, Lucid's interim CEO, stated, "This's the start of our path to extend our innovation and nology leadership into this multitrillion-dollar market (fascinating analysis).
" The robotaxi fleet will feature Lucid Gravity EVs that incorporate autonomous driving software from Nuro, a leader in self-driving car nology. The robotaxis will operate at Level 4 autonomy.
To help support the development of the robotaxi fleet, Uber will make multimillion-dollar investments in Lucid, as well as Nuro.
The analysis reveals companies expect the robotaxi service to launch in 2026 in a major U. Is it too late to go for a ride with Lucid stock (something worth watching).
Meanwhile, With Tesla so often receiving the lion's of attention with robotaxi service, it's no wonder that Lucid investors are racing to pick up s on news of the partnership with Uber.
For spective investors considering a position in Lucid, there's no rush to pile into the stock right now, but this is certainly an encouraging development for the company and may portend similar deals in the future for robotaxi service.
Scott Levine has no position in any of the stocks mentioned, in light of current trends. The Motley Fool has positions in and recommends Tesla and Uber nologies (something worth watching).
The Motley Fool has a disclosure policy.